David Rosenthal: uncertainty

Transcript context

…She's moving from a country label to a pop, it makes lots of sense. Again, we don't know what the tenor and tone of the negotiations were up to this point. But once this happens, this really, really changes the business dynamic for Big Machine. Again, we don't know how much people knew this was going to happen beforehand, but here's the reality. It's estimated that revenue from Taylor's work was 80% of Big Machine's total revenue. They had other artists. They had Rascal Flatts, they had other folks, both current and past and they own the masters in the past. But Taylor was so big it was 80% of the revenue of the company. While Taylor is still signed with them, that's like operating revenue. Even after Taylor's not signed with them, it's still your operating revenue because—…

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